AI-native cybersecurity (Falcon)
CrowdStrike
The leader in AI-native cybersecurity. FY2026 (ended Jan) ARR $5.25B (+24%, record) and subscription revenue $4.56B (95% of revenue) put it on the path toward a $20B ARR goal by FY36, aiming to pass $10B. Falcon Flex licensing bundles 33 modules (Next-Gen SIEM, Cloud, Identity — a $1.9B+ ARR bundle, +45%) and lifts spend per customer at 115% net retention. As AI multiplies threats, demand for AI-native defense grows — an applications-layer buyer that buys cloud and GPUs to sell security to enterprises.
Business categories Cybersecurity · Cloud & Enterprise Software · primary
CRWD Updated Jul 12, 2026 6 AI consumers· 3 recurring
Per the valuechain.wiki graph, CrowdStrike is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 48 companies within two hops; the links are backed by 7 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · FY2026 (ended Jan 2026) ARR $5.25B (+24%), total revenue $4.81B (+22%), subscription 95%, 75% gross margin (operating loss, growth investment)
- Customer concentration · No single customer >10% (diversified). $20B ARR goal by FY36. Falcon Flex, 33 modules.
- Segments · Falcon subscription (95% of revenue) · Next-Gen SIEM, Cloud & Identity (Falcon Flex)
Revenue from
- Enterprises (Falcon AI security subscription) High confidence· arr $5.3B · FY2026
Falcon AI-native security subscriptions to enterprises (ARR $4.24B, +23%).Mentions EN Morgan Stanley·consensus (via MarketBeat) Published Jun 1, 2026: CrowdStrike analyst Buy, consensus target ~$674 (Morgan Stanley Overweight)Confirms EN CrowdStrike (SEC EDGAR) Published Mar 5, 2026: CrowdStrike Form 10-K (FY2026, ended Jan 31 2026) - Next-gen SIEM · cloud · identity (Falcon Flex) High confidence· arr bundle $1.9B · FY2026
Next-Gen SIEM, cloud and identity modules (combined ARR $1.3B+).Confirms EN CrowdStrike (SEC EDGAR) Published Mar 5, 2026: CrowdStrike Form 10-K (FY2026, ended Jan 31 2026)
Pays to
- Amazon Medium confidence
Runs the Falcon platform on cloud like AWS.Confirms EN CrowdStrike (SEC EDGAR) Published Mar 5, 2026: CrowdStrike Form 10-K (FY2026, ended Jan 31 2026) - infrastructure & R&D (undisclosed) Low confidence· rnd $1.4B · FY2026
Cloud infrastructure and R&D.Confirms EN CrowdStrike (SEC EDGAR) Published Mar 5, 2026: CrowdStrike Form 10-K (FY2026, ended Jan 31 2026) - NVIDIA Low confidence
NVIDIA GPUs for threat-detection AI models.Confirms EN CrowdStrike (SEC EDGAR) Published Mar 5, 2026: CrowdStrike Form 10-K (FY2026, ended Jan 31 2026)Confirms KO DigitalToday Published Apr 29, 2025: NVIDIA unveils Argus agent for AI security threat detectionConfirms EN CrowdStrike Published Mar 18, 2024: CrowdStrike Collaborates with NVIDIA to Advance Cybersecurity with Generative AI
Investments
- M&A & buybacks ($1.0B program, platform expansion) High confidence· Amount $1B · FY2026 · authorized buyback
CrowdStrike's capital allocation has two legs — (i) acquisitions of technologies/companies to expand modules (integrated into Falcon), and (ii) a $1.0B share-repurchase program authorized in June 2025. Still in a growth-investment phase (FY2026 net loss $162M), but it widens the 33-module platform via M&A and has begun returning free cash flow through buybacks.Confirms EN CrowdStrike (SEC EDGAR) Published Mar 5, 2026: CrowdStrike Form 10-K (FY2026, ended Jan 31 2026)
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| CrowdStrike | node | -3.3 | -48.6 | +142.5 | +34 | +37 | +134.7 |
| Amazon | benef1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| SanDisk | benef2 | · | · | · | · | · | +633 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +209.1 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +105.7 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +92.3 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| GE Vernova | benef2 | · | · | · | · | +99 | +54 |
| Occidental Petroleum | benef2 | +67.7 | +119.1 | -4.1 | -15.9 | -14.9 | +48.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +40.6 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +40.1 |
| FedEx | benef2 | +0.7 | -31.6 | +49.1 | +13.5 | +5.1 | +39.6 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +37.3 |
| Globalstar | benef2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +37.3 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +36.3 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +36 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Celestica | benef2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +22.5 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +21.2 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +18.5 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Church & Dwight Co., Inc. | benef2 | +18.9 | -20.4 | +18.7 | +12 | -18.9 | +18.1 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +16.3 |
| Norfolk Southern | benef2 | +27.3 | -15.6 | -1.6 | +1.6 | +25.6 | +15.6 |
| Colgate-Palmolive Company | benef2 | +2.1 | -5.4 | +3.8 | +16.6 | -11 | +14.4 |
| Entergy | benef2 | +17.1 | +3.6 | -6.1 | +56 | +25.3 | +13.2 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +11.7 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +11 |
| United Parcel Service, Inc. | benef2 | +30 | -16.2 | -6 | -15.9 | -15.9 | +8 |
| Procter & Gamble | benef2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.5 |
| Ameren Corporation | benef2 | +17.1 | +2.5 | -16.1 | +27.5 | +15.3 | +4.5 |
| Omnicom Group Inc. | benef2 | +21.9 | +15.7 | +9.6 | +2.5 | -2.6 | +4.4 |
| Talen Energy | benef2 | · | · | · | +214.8 | +86.1 | +1 |
| The Estée Lauder Companies Inc. | benef2 | +40 | -32.3 | -40.1 | -47.6 | +42.1 | +0.2 |
| Amorepacific | benef2 | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | -1.2 |
| Exelon | benef2 | +41.5 | +8.3 | -14 | +9.2 | +20 | -1.5 |
| Vistra | benef2 | +19.6 | +5.1 | +70.7 | +261.5 | +17.7 | -7.2 |
| Fabrinet | benef2 | +52.7 | +8.2 | +48.4 | +15.5 | +107.1 | -10.5 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Abbott Laboratories | benef2 | +30.5 | -20.7 | +2.3 | +4.8 | +12.9 | -19 |
| Quantum Computing Inc | benef2 | -75.8 | -55.7 | -39.5 | +1712.7 | -38 | -27.5 |
| Nike | benef2 | +18.7 | -29 | -6 | -29.1 | -13.8 | -44.1 |
| D-Wave Quantum | benef2 | · | -85.3 | -38.9 | +854.5 | +211.3 | -44.3 |
YTD as of 2026-10-09 · source: Yahoo Finance
CrowdStrike operates across AI-native cybersecurity (Falcon). Momentum stayed firm and it is +81.8% in 2026. The stock (+81.8%) and its supply side (avg +17.9%) are moving in step. Among connected nodes the furthest ahead is NVIDIA (+23.7%) and the furthest behind is Amazon (+12%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. As AI multiplies threats, demand for AI-native defense grows — an applications-layer buyer that buys cloud and GPUs to sell security to enterprises.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target $382 · Price $275.04 (10-09) · Upside +39%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| UBS | Buy | $235 | Jul 7, 2026 | Report ↗ |
| Stifel · Adam Borg | Buy | $220 | Jul 6, 2026 | Report ↗ |
| Morgan Stanley | Overweight | $690 | Jun 4, 2026 | Report ↗ |
Even after the 4-for-1 split (Jul 2, 2026), UBS and Stifel keep Buy ratings and raising targets on the AI-driven security demand cycle.
Analyses covering this node
- Orders are measured, revenue is narrative: on every frontier, infrastructure re-rates first Jun 23, 2026
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